Lending Products give users access to a portfolio of third-party lending options to use their crypto holdings to earn interest.
Note: Your account must be Intermediate or Full verified to access Lending Products.
What is Celsius
Celsius is a third-party crypto interest and lending services provider, allowing users to generate yields on their cryptocurrency holdings.
Note: Celsius is presently only available to individual account holders who have completed the KYC intermediate or higher verification process, and it is not available to corporate accounts.
How to get started with Celsius
1. Firstly, sign up/log in to your Bitfinex account and navigate to the Lending Products page.
2. Then, under Lending Products, select Celsius, and you'll be prompted to read and accept the Notice and Consent.
Note: You can also access Lending Products from the Bitfinex trading page, under the More drop-down menu.
3. Select the amount and choose one of the supported cryptocurrencies you would like to deposit to Celsius to begin earning interest. Deposits will be withdrawn from your Bitfinex exchange wallet and deposited with Celsius.
A minimum of $50 equivalent can be deposited, to which the standard Bitfinex withdrawal fee is added.
Cryptocurrencies currently available on Lending Products:
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4. Finally, a pop-up for the action (deposit, withdraw) will display, followed by a notification indicating whether or not it was successful.
Note: The collapsible menus on the Lending Products page will provide you with an up-to-date list of your balances and lending activities.
How to terminate my lending
The lent funds are not locked in, so they can be withdrawn from Celsius at any time and returned to your Bitfinex exchange wallet. To terminate lending, simply select the Withdraw option.
A minimum of $25 (equivalent) is required to withdraw funds.
What will be my interest in using Celsius on Bitfinex
The Celsius interest rates will vary based on market demand.
Therefore, holding cryptocurrency in high demand will have higher interest rates than those with less demand.
Important: There is no minimum length of time required to begin earning interest.
You can earn interest based on the amount of time your funds are held throughout the calculation period (Friday 05:00:00 AM UTC to Friday 04:59:59 AM UTC); it is accrued weekly, distributed every Monday, and calculated using the price snapshot recorded each Friday at 11:00 AM UTC.
Note: Interest for deposits made after Friday 04:59:59 AM UTC will only be distributed the following Monday.
All interest earned will be deposited directly into your linked wallet on Celsius and is easily trackable on your Lending Products page.
What are the fees for using Celsius on Bitfinex Lending Product
Lending the tokens to Celsius will incur a standard Bitfinex withdrawal fee, which will be deducted from your deposited amount.
Note: While withdrawing from Celsius to your Bitfinex wallet will not incur any fees.
Where can I find out more about Celsius
Celsius's website contains Frequently Asked Questions (FAQ), calculators, and other resources. You can visit here: https://celsius.network.
Important: Each service provider listed above is a Third-Party Service, as described in Terms of Service. Third-Party Services are not under the control of Bitfinex or its Associates, and Bitfinex and its Associates make no representations about and accept no liability for any Third-Party Services.
Bitfinex and its Associates are not responsible for the accuracy or reliability of any information, data, opinions, advice, or statements contained in Third-Party Services and the services offered thereby or for their privacy and security policies and procedures.
Nothing on this page is financial, legal or other advice. Nothing on this page is an offer to borrow or lend or the solicitation, recommendation or endorsement of any course of borrowing or lending. Any references on this page to returns are only hypothetical and not guaranteed.
Some of the information on this page has been provided by the Third Party Services listed above. The information received from the Third Party Services set out above has not been verified by Bitfinex for adequacy, accuracy or completeness. Bitfinex and its Associates are not responsible for the legality, reliability, accuracy, and appropriateness of such content. You are personally responsible for verifying any information that you find on this page about Third Party Services that you wish to rely on.
If you have any questions regarding lending please feel free to contact Bitfinex Support.
